BOI Relief, Tax Reform, and IRS Restructuring

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Federal Tax Updates

Roger Harris, EA and Annie Schwab, CPA

72 episodes

3 days ago

CPAs, Enrolled Agents, and Tax Preparers can keep up-to-date with the latest federal tax information while earning NASBA approved CPE credits and IRS approved CE credits by listening to the bi-weekly Federal Tax Updates podcast. The hosts Roger Harris and Annie Schwab have over 75 years of tax experience between them, which has been featured in various media outlets including Wall Street Journal, USA Today, The Morning Business Report, Bloomberg Business News, and Accounting Today.

All content for Federal Tax Updates is the property of Roger Harris, EA and Annie Schwab, CPA and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

BOI Relief, Tax Reform, and IRS Restructuring

Federal Tax Updates

53 minutes

8 months ago

BOI Relief, Tax Reform, and IRS Restructuring

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Roger and Annie provide critical updates on the Treasury Department's decision to halt Corporate Transparency Act penalties and enforcement requirements, bringing relief to tax practitioners and their clients. They break down the six-step reconciliation process for tax reform, offering clarity on where current legislation stands and what might be coming. The hosts also discuss concerns about potential IRS workforce reductions, upcoming technology improvements, and preview changes to Circular 230 regulations that will impact tax practice management.

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(00:00) - Introduction and Welcome
(02:04) - BOI Reporting Updates
(02:50) - Corporate Transparency Act Penalties
(05:46) - Guidance for Clients on BOI Compliance
(11:03) - Government Shutdown Concerns
(15:27) - Reconciliation and Tax Reform Process
(26:15) - Debating the Impact of Tariffs
(26:57) - Abolishing the IRS: Feasible or Fantasy?
(29:08) - IRS Workforce Cuts: Immediate Implications
(29:54) - Challenges of Tax Season Amid Workforce Reductions
(32:39) - Potential Tax Reforms and Technological Advancements
(45:31) - Common Tax Filing Mistakes to Avoid
(47:58) - Upcoming Changes to Circular 230
(51:19) - Wrapping Up and Final Thoughts

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Connect with the Roger and Annie on LinkedIn
https://www.linkedin.com/in/rogerharrispbs/
https://www.linkedin.com/in/annie-schwab-852418261/

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This podcast is a production of the Earmark Media